Banks: Maybe Debit Card Fees Are a Bad Idea

Not so long ago, Bank of America decided that a good way to refill its slightly-less-bulging-than-usual pockets would be to charge people a monthly fee for their debit cards. "This won't cause a massive public backlash at all, probably," they thought to themselves, while setting a box of puppies aflame.

Following eight months of consumer testing, J.P. Morgan Chase & Co. has decided that it won't charge customers who use their debit cards to make purchases, according to a person familiar with the bank's plans.